Halcon Resources Corp (HK) Sees Significant Drop in Short Interest

Halcon Resources Corp (NYSE:HK) was the recipient of a significant decrease in short interest during the month of March. As of March 29th, there was short interest totalling 26,270,930 shares, a decrease of 23.3% from the March 15th total of 34,268,373 shares. Based on an average daily trading volume, of 4,858,875 shares, the short-interest ratio is currently 5.4 days. Approximately 17.9% of the company’s stock are sold short.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oaktree Capital Management LP grew its position in Halcon Resources by 805.5% during the fourth quarter. Oaktree Capital Management LP now owns 11,500,000 shares of the energy company’s stock valued at $19,550,000 after buying an additional 10,230,000 shares during the period. Dimensional Fund Advisors LP grew its position in Halcon Resources by 29.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,159,837 shares of the energy company’s stock valued at $13,872,000 after buying an additional 1,870,829 shares during the period. LSP Investment Advisors LLC grew its position in Halcon Resources by 132.3% during the fourth quarter. LSP Investment Advisors LLC now owns 8,039,931 shares of the energy company’s stock valued at $13,668,000 after buying an additional 4,578,499 shares during the period. JPMorgan Chase & Co. grew its position in Halcon Resources by 8.9% during the third quarter. JPMorgan Chase & Co. now owns 3,986,822 shares of the energy company’s stock valued at $17,821,000 after buying an additional 324,836 shares during the period. Finally, Sound Point Capital Management LP grew its position in Halcon Resources by 29.8% during the fourth quarter. Sound Point Capital Management LP now owns 2,831,580 shares of the energy company’s stock valued at $4,814,000 after buying an additional 650,000 shares during the period.

NYSE HK opened at $1.40 on Tuesday. Halcon Resources has a 1 year low of $1.17 and a 1 year high of $5.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $227.57 million, a PE ratio of -28.00 and a beta of 3.70.

Halcon Resources (NYSE:HK) last posted its earnings results on Tuesday, March 12th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). Halcon Resources had a negative return on equity of 0.65% and a net margin of 20.28%. The firm had revenue of $60.34 million during the quarter, compared to the consensus estimate of $64.94 million. Analysts forecast that Halcon Resources will post -0.17 earnings per share for the current fiscal year.

Several research firms have weighed in on HK. ValuEngine upgraded shares of Halcon Resources from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Capital One Financial downgraded shares of Halcon Resources from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. Zacks Investment Research upgraded shares of Halcon Resources from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Bank of America downgraded shares of Halcon Resources from a “neutral” rating to an “underperform” rating in a report on Friday, January 4th. Finally, Johnson Rice downgraded shares of Halcon Resources from a “buy” rating to a “hold” rating and set a $7.00 price objective on the stock. in a report on Friday, February 22nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Halcon Resources presently has a consensus rating of “Hold” and an average target price of $5.34.

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Halcon Resources Company Profile

Halcón Resources Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. As of December 31, 2018, the company held interests in 56,900 net acres in the Delaware Basin, located in Pecos, Reeves, Ward, and Winkler Counties, Texas.

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